Short Interest in Heritage Global Inc. (NASDAQ:HGBL) Expands By 17.4%

Heritage Global Inc. (NASDAQ:HGBL) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 28,400 shares, a growth of 17.4% from the December 15th total of 24,200 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 68,600 shares, the days-to-cover ratio is presently 0.4 days.

Heritage Global Stock Performance

NASDAQ:HGBL traded down $0.04 during midday trading on Friday, reaching $2.03. 31,251 shares of the stock traded hands, compared to its average volume of 87,607. The company has a fifty day moving average of $1.77 and a 200 day moving average of $1.87. Heritage Global has a 12 month low of $1.52 and a 12 month high of $3.09. The stock has a market capitalization of $75.80 million, a P/E ratio of 7.25 and a beta of 1.16.

Institutional Investors Weigh In On Heritage Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Heritage Global by 2.4% in the third quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock valued at $570,000 after acquiring an additional 7,842 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Heritage Global by 53.2% in the third quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock valued at $49,000 after acquiring an additional 10,068 shares in the last quarter. Jane Street Group LLC bought a new stake in Heritage Global in the third quarter valued at $25,000. Dimensional Fund Advisors LP boosted its holdings in Heritage Global by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 449,864 shares of the company’s stock valued at $1,107,000 after acquiring an additional 47,375 shares in the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in Heritage Global in the third quarter valued at $1,801,000. 33.46% of the stock is currently owned by institutional investors.

Heritage Global Company Profile

Heritage Global Inc, together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions. The company operates in three segments: Auction and Liquidation, Refurbishment & Resale, and Brokerage. It provides a suite of market making, acquisitions, refurbishment, dispositions, valuations, and secured lending services.